Members will have four new variable annuity choices offered through a partnership between CUNA Mutual Group and Transamerica Life Insurance Co.
The variable annuities will be launched under the names MEMBERS Landmark, MEMBERS Liberty, MEMBERS Extra and MEMBERS Freedom and aim to provide a broad suite of retirement solutions for credit union members, according to CUNA Mutual.
These annuities will replace the existing offering of MEMBERS variable annuity products, according to Kevin Thompson, senior vice president of asset accumulation products at CUNA Mutual.
There will be no impact to existing MEMBERS annuity contract holders. The newly branded MEMBERS variable annuities are expected to be available in a majority of states beginning May 2, the company said.